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CEMEX, S.A.B. DE C.V. AND SUBSIDIARIES Notes to the Consolidated Financial Statements – (Continued) As of December 31, 2010, 2009 and 2008 (Millions of Mexican pesos) 3. SELECTED FINANCIAL INFORMATION BY GEOGRAPHIC OPERATING SEGMENT AND DISCONTINUED OPERATIONS 3A) GEOGRAPHIC OPERATING SEGMENTS Operating segments are defined as the components of an entity oriented to the production and sale of goods and services, which are subject to risks and benefits different from those associated with other business segments. CEMEX operates principally in the construction industry segment through the production, distribution, marketing and sale of cement, ready-mix concrete and aggregates. CEMEX operates geographically on a regional basis. Each regional manager supervises and is responsible for all the business activities in the countries comprising the region. These activities refer to the production, distribution, marketing and sale of cement, ready-mix concrete and aggregates. The country manager, who is one level below the regional manager in the organizational structure, reports his business unit operating results including all the operating sectors, to the regional manager. CEMEX’s management internally evaluates the results and performance of each country and region for decision-making purposes, following a vertical integration approach. According to this approach, in the daily operations, management allocates economic resources on a country basis rather than on an operating component basis. The main indicator used by CEMEX’s management to evaluate the performance of each country is operating EBITDA, which CEMEX defines as operating income plus depreciation and amortization. This indicator, which is presented in the selected financial information by geographic operating segment, is consistent with the information used by CEMEX’s management for decision-making purposes. The accounting policies applied to determine the financial information by geographic operating segment are consistent with those described in note 2. CEMEX recognizes sales and other transactions between related parties based on market values. Selected statements of operation information by geographic operating segment for the year ended December 31, 2008 has been modified as a result of the presentation of discontinued operations in connection with the sale of CEMEX’s operations in Australia (notes 3B and 11A). Information for the years ended December 31, 2010, 2009 and 2008 was as follows: 2010 Net sales (including related parties) Related parties F-20 Consolidated net sales Operating income (loss) Operating depreciation and amortization Operating EBITDA North America Mexico ................................................. Ps 42,907 (744) 42,163 12,380 1,940 14,320 United States ........................................ 31,575 (70) 31,505 (8,990) 7,978 (1,012) Europe Spain .................................................... 8,013 (110) 7,903 984 777 1,761 United Kingdom................................... 14,320 – 14,320 (780) 1,153 373 Germany............................................... 13,524 (864) 12,660 26 589 615 France................................................... 12,179 – 12,179 221 897 1,118 Rest of Europe 1 ................................... 13,682 (632) 13,050 399 746 1,145 Central and South America and the Caribbean Colombia.............................................. Rest of Central and South America 6,964 (8) 6,956 2,226 262 2,488 and the Caribbean 2 ........................... 12,380 (1,588) 10,792 2,222 1,079 3,301 Africa and Middle East Egypt .................................................... 8,608 (174) 8,434 4,146 274 4,420 Rest of Africa and Middle East 3 .......... 5,248 – 5,248 228 233 461 Asia Philippines............................................ 4,014 – 4,014 909 322 1,231 Rest of Asia 4 ........................................ 2,512 – 2,512 73 124 197 Others 5 ........................................................ 8,215 (1,691) 6,524 (3,201) 2,100 (1,101) Total.............................................................. Ps 184,141 (5,881) 178,260 10,843 18,474 29,317
CEMEX, S.A.B. DE C.V. AND SUBSIDIARIES Notes to the Consolidated Financial Statements – (Continued) As of December 31, 2010, 2009 and 2008 (Millions of Mexican pesos) Selected statements of operations information by geographic operating segment – continued. 2009 Net sales (including related parties) Related parties F-21 Consolidated net sales Operating income (loss) Operating depreciation and amortization Operating EBITDA North America Mexico ................................................. Ps 42,339 (730) 41,609 13,965 1,878 15,843 United States ........................................ 38,472 (58) 38,414 (7,290) 8,630 1,340 Europe Spain .................................................... 11,308 (127) 11,181 1,667 912 2,579 United Kingdom................................... 16,126 – 16,126 (859) 1,438 579 Germany............................................... 16,492 (1,068) 15,424 658 745 1,403 France................................................... 13,866 – 13,866 786 770 1,556 Rest of Europe 1 ................................... 16,174 (387) 15,787 976 983 1,959 Central and South America and the Caribbean Colombia.............................................. 6,766 (2) 6,764 2,672 406 3,078 Rest of Central and South America and the Caribbean 2 ........................... 13,857 (1,776) 12,081 2,784 1,147 3,931 Africa and Middle East Egypt .................................................... 8,372 – 8,372 3,465 289 3,754 Rest of Africa and Middle East 3 .......... 6,425 – 6,425 830 206 1,036 Asia Philippines............................................ 3,867 (68) 3,799 996 327 1,323 Rest of Asia 4 ........................................ 2,566 – 2,566 102 137 239 Others 5 ........................................................ 9,709 (4,322) 5,387 (4,912) 2,445 (2,467) Total.............................................................. Ps 206,339 (8,538) 197,801 15,840 20,313 36,153 2008 Net sales (including related parties) Related parties Consolidated net sales Operating income (loss) Operating depreciation and amortization Operating EBITDA North America Mexico ................................................. Ps 42,857 (1,221) 41,636 14,254 1,880 16,134 United States ........................................ 52,040 (23) 52,017 (461) 7,932 7,471 Europe Spain .................................................... 17,493 (306) 17,187 4,325 854 5,179 United Kingdom................................... 19,225 – 19,225 (1,411) 1,671 260 Germany............................................... 15,883 (909) 14,974 434 719 1,153 France................................................... 14,266 – 14,266 505 1,218 1,723 Rest of Europe 1 ................................... 19,343 (422) 18,921 2,009 1,058 3,067 Central and South America and the Caribbean Venezuela............................................. 4,443 (157) 4,286 958 392 1,350 Colombia.............................................. 6,667 (3) 6,664 2,116 735 2,851 Rest of Central and South America and the Caribbean 2 ........................... 13,035 (1,570) 11,465 2,481 908 3,389 Africa and Middle East Egypt .................................................... 5,218 – 5,218 2,176 244 2,420 Rest of Africa and Middle East 3 .......... 6,850 – 6,850 558 206 764 Asia Philippines............................................ 2,928 (88) 2,840 528 283 811 Rest of Asia 4 ........................................ 2,313 252 2,565 57 100 157 Others 5 ........................................................ 13,368 (5,817) 7,551 (2,441) 1,499 (942) Total.............................................................. Ps 235,929 (10,264) 225,665 26,088 19,699 45,787
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CEMEX 2010 20F REPORT building a ST
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Securities registered or to be regi
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Qualitative and Quantitative Market
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INTRODUCTION CEMEX, S.A.B. de C.V.
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As a result of the foregoing transa
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In the U.S., the recession was long
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The Financing Agreement contains ev
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The Financing Agreement restricts u
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During 2009, we reduced the aggrega
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The instruments governing our debt
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On the legislative front, during th
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Our operations in South America, Ce
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the depositary to vote the CPOs und
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Beginning in 2008, MFRS B-10 has el
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(1) Cost of sales includes deprecia
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Item 4 - Information on the Company
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As a condition to closing the RMC a
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Provide our customers with the best
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In connection with the implementati
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In 2010, as a result of our efforts
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In addition, we are one of the worl
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(2) Our cement raw materials operat
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Our Corporate Structure We are a ho
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Cement in Mexico is sold principall
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Aggregates. Our aggregates operatio
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Beginning on June 30, 2008, Ready M
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Products and Distribution Channels
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On December 26, 2008, we sold our C
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Ready-Mix Concrete. Our ready-mix c
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Aggregates. In 2010, we reduced fix
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Our Operating Network in France Des
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In April 2006, we initiated an expa
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Our Operating Network in Colombia P
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Our Operations in Nicaragua Overvie
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Our Operations in the United Arab E
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Our Trading Operations In 2010, we
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On December 10, 2010, after receivi
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To prevent, control and remediate e
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As required by the directive, each
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For the 2010 fiscal year, CEMEX wil
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Separately, the government of Venez
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and CEMEX was required by August 11
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January 1, 2008, however, under MFR
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foreign subsidiaries. These instrum
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Valuation reserves on accounts rece
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Stage 1. Communication to the organ
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Year Ended December 31, 2010 Compar
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Geographic Segment 89 Variations in
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United Kingdom Our domestic cement
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ended December 31, 2010, Africa and
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Operating Income. For the reasons m
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Our comprehensive financing result
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The following tables present select
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Mexico Our domestic cement sales vo
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As a result of the decreases in dom
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For the year ended December 31, 200
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South America, Central America and
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On August 14, 2009, we entered into
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As of December 31, 2010, we had U.S
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Our Perpetual Debentures As of Dece
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The Financing Agreement, as amended
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In 1999, CEMEX entered into an agre
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Our Equity Derivative Forward Contr
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As of December 31, 2009 and 2010, C
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In addition, we have entered into f
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Private Cash Tender Offer to Holder
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Name, Position (Age) Experience Jai
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Name, Position (Age) Experience Ram
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Tomás Milmo Santos (46) Has been a
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Set forth below are the names of th
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Consolidated ESOP Information Stock
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Item 7 - Major Shareholders and Rel
Page 151 and 152: The following table sets forth the
Page 153 and 154: Item 10 - Additional Information Ar
Page 155 and 156: exempt from registration pursuant t
Page 157 and 158: Our board of directors shall prepar
Page 159 and 160: Under our by-laws, shareholders rep
Page 161 and 162: On June 2, 2008, CEMEX, through one
Page 163 and 164: Exchange Controls See “Item 3 —
Page 165 and 166: The gross amount of any dividends p
Page 167 and 168: We have agreed to pay some of the o
Page 169 and 170: Item 16G - Corporate Governance Sec
Page 171 and 172: Item 17 - Financial Statements Not
Page 173 and 174: 4.17 Debenture Purchase Agreement,
Page 175 and 176: 4.27.3 Amendment No. 1 to U.S.$525,
Page 177 and 178: 4.41.4 Accession Letter, dated Janu
Page 179 and 180: 4.57 Amended and Restated Dealer Ma
Page 181: SIGNATURES CEMEX, S.A.B. de C.V. he
Page 184 and 185: The Board of Directors and Stockhol
Page 186 and 187: CEMEX, S.A.B. DE C.V. AND SUBSIDIAR
Page 190 and 191: 1. DESCRIPTION OF BUSINESS CEMEX, S
Page 192 and 193: C) USE OF ESTIMATES CEMEX, S.A.B. D
Page 194 and 195: J) IMPAIRMENT OF LONG LIVED ASSETS
Page 196 and 197: Contingencies and commitments (note
Page 200 and 201: V) CONCENTRATION OF CREDIT CEMEX, S
Page 206 and 207: Net sales by product and geographic
Page 208 and 209: 4. CASH AND INVESTMENTS CEMEX, S.A.
Page 222 and 223: II. Equity forwards in third party
Page 224 and 225: 14. EMPLOYEE BENEFITS Defined contr
Page 232 and 233: 17. EXECUTIVE STOCK-BASED COMPENSAT
Page 234 and 235: 18. EARNINGS (LOSS) PER SHARE CEMEX
Page 236 and 237: D) CONTRACTUAL OBLIGATIONS CEMEX, S
Page 246 and 247: Reconciliation of stockholders’ e
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CEMEX, S.A.B. DE C.V. AND SUBSIDIAR
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(k) Other U.S. GAAP Adjustments Def
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